iRhythm Technologies (NASDAQ:IRTC) CFO Daniel Wilson Sells 5,188 Shares

iRhythm Technologies (NASDAQ:IRTC) CFO Daniel Wilson sold 5,188 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $135.42, for a total value of $702,558.96. Following the transaction, the chief financial officer directly owned 30,694 shares of the company’s stock, valued at $4,156,581.48. The trade was a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

iRhythm Technologies Price Performance

IRTC stock opened at $140.18 on Friday. The business’s 50-day moving average is $162.29 and its two-hundred day moving average is $170.73. The company has a debt-to-equity ratio of 4.25, a current ratio of 4.63 and a quick ratio of 4.48. The firm has a market capitalization of $4.53 billion, a P/E ratio of -100.13 and a beta of 1.06. iRhythm Technologies has a 1 year low of $92.52 and a 1 year high of $212.00.

iRhythm Technologies (NASDAQ:IRTC) last issued its earnings results on Thursday, February 19th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.27. iRhythm Technologies had a negative net margin of 5.96% and a negative return on equity of 28.15%. The firm had revenue of $208.89 million for the quarter, compared to analysts’ expectations of $202.61 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year. Analysts anticipate that iRhythm Technologies will post -1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRTC has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on iRhythm Technologies from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Robert W. Baird cut their target price on iRhythm Technologies from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Morgan Stanley restated an “overweight” rating on shares of iRhythm Technologies in a research note on Monday, January 12th. Canaccord Genuity Group dropped their price target on shares of iRhythm Technologies from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of iRhythm Technologies in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.62.

iRhythm Technologies News Roundup

Here are the key news stories impacting iRhythm Technologies this week:

• Positive Sentiment: Quarterly beat — iRhythm reported $0.29 EPS vs. $0.02 expected and revenue of $208.9M (+27% YoY), signaling accelerating sales growth that likely underpins today’s upside. MarketBeat: iRhythm earnings summary
• Positive Sentiment: Institutional support — large investors (Vanguard, Tudor, RTW, Geode, UBS AM) built or increased stakes in recent quarters, supplying a backstop of long-term demand. MarketBeat: Institutional holdings
• Neutral Sentiment: Analyst moves are mixed — several firms trimmed targets (Wells Fargo, JPMorgan, Canaccord) but maintained buy/overweight calls, while Citi lifted its target earlier; consensus remains a “Moderate Buy” with a ~ $212 average target. MarketBeat: Analyst coverage
• Negative Sentiment: Heavy insider selling — CEO Quentin Blackford sold 25,540 shares and multiple senior executives (CFO, CAO, several EVPs and other insiders) sold additional blocks on Feb 25 at ~ $135.42, materially reducing their positions; such coordinated executive sales can be viewed negatively by markets. CEO Form 4 (SEC)
• Negative Sentiment: Rising short interest — short interest climbed ~20% to ~3.4M shares (≈10.6% of float) with a ~5.1-day cover ratio, increasing downside risk if negative news follows or giving volatility if shorts cover.

Institutional Trading of iRhythm Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MidFirst Bank purchased a new position in shares of iRhythm Technologies in the 4th quarter valued at approximately $235,000. Corient Private Wealth LLC grew its position in iRhythm Technologies by 12.1% in the 4th quarter. Corient Private Wealth LLC now owns 1,764 shares of the company’s stock valued at $313,000 after buying an additional 191 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in iRhythm Technologies by 7.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 639,423 shares of the company’s stock valued at $113,459,000 after buying an additional 44,175 shares during the period. XTX Topco Ltd purchased a new position in iRhythm Technologies during the 4th quarter worth $855,000. Finally, RTW Investments LP acquired a new stake in shares of iRhythm Technologies in the 4th quarter worth $209,732,000.

About iRhythm Technologies

iRhythm Technologies, Inc is a medical technology company that develops and commercializes wearable cardiac monitoring devices and associated data analytics services. Founded in 2006 and headquartered in San Francisco, California, the company’s flagship product is the Zio® patch, a discreet, single-use, continuous ECG recorder designed to monitor heart rhythms for up to 14 days. iRhythm’s digital diagnostics platform combines biosensor technology with proprietary algorithms to detect arrhythmias and streamline data interpretation for physicians.

The Zio service is prescribed by cardiologists and other healthcare providers to aid in the diagnosis of atrial fibrillation, bradycardia, tachycardia and other rhythm disorders.